FOR IMMEDIATE RELEASE
INSURANCE DEPARTMENT ANNOUNCES 2004 FIRE TAX DISTRIBUTION
Superintendent of Insurance Gregory V. Serio today announced that $41.2 million will go to approximately 2,360 fire districts across New York State under the 2004 Fire Tax Distribution. This years distribution represents a 15 percent increase from the prior years level of $35.9 million. As part of the distribution, the Firemens Association of the State of New York (FASNY) will receive $3.9 million to support and maintain the firemens home in Hudson.
Superintendent Serio said, "The annual Fire Tax Distribution provides important resources supporting the efforts of fire companies throughout New York State. The Insurance Department is commited to providing these funds to local fire departments and joins all New Yorkers who are proud of the tireless work performed by these brave men and women."
Money supporting the Fire Tax Distribution is collected from insurance companies under Section 9104 and 9105 of the Insurance Law, and from excess line brokers under Section 2118.
The Fire Tax Distribution monies are to be used for the benefit of the members of the fire departments as determined by guidelines established by the Office of the State Comptroller. The amount each district receives is determined by the amount of premium in specific districts as reported to the Insurance Department.